Re: {LONGTERMINVESTORS} Research Reports extracts & summaries - Thread

 CLSA on Asian Paints

* Maintains Outperform; raises target  ₹975 from ₹900
* Upgrades EPS estimates by 4-5%  over FY16-18            
* Surprised with a strong margin expansion & double-digit volume growth
* Domestic volume growth at 16-17% aided  by festive season
* Gross margins now at an all-time high of 46.4%

CLSA on Wipro
* Maintains Outperform; cuts target  to ₹630 from ₹650
* Investment thesis depends on improving execution
* March guidance suggest momentum has been maintained under new CEO
* Improving business momentum from large deal wins, vendor consolidation drivers
* Bottoming-out portfolio keeps us optimistic on company's prospects

Credit Suisse on Wipro
* Maintains Outperform; cuts target to  ₹650 from ₹675
* Weak product biz dragged overall profits to levels slightly below expectations
* Cuts 2016-18 EPS est by 1-3% on slightly lower growth assumptions for FY17

Goldman on Kotak Bank
* Maintains Neutral; cuts target to ₹660 from ₹675
* Below expectations on marginal topline miss & higher provisions
* NII 3% below GS est & NIMs flattish  despite 25 bps cut in base rate
* Expect loan growth to increase 25% in FY17E  led by retail business
* Retail liability franchise picking up traction post merger

CLSA on TTK Prestige
* Maintains Buy; target of ₹5,140
* Sales growth highest ever in past 11 quarters with margin increase
* Management expects double-digit sales  growth to continue
* Management strategy remains focused on  new launches & e-commerce traction
* Management strategy remains focused on  new launches & e-commerce traction
* Earnings seem on an upward trajectory  post consensus downgrades

CS on MindTree
* Maintains Neutral; raises target to ₹1,400 from ₹1,375
* Cautious on co's valuations which are at a slight premium to both Infosys & TCS
* May keep growing revenue at an industry leading rate but margin recover gradual
* Mgmt's aspirational tgt of 17-18% EBIT margin looks difficult in medium-term
* Solid revenue growth momentum, but valuation remains a concern

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